I just went long the Direxion 3X small cap bull ETF shares at 12.70 about 20 minutes ago. Stop is at 12.04. You just have to try going long here. The market is extremely oversold and it seems like we are coming to the end of the world.
As I indicated in my previous post about how extremely oversold the broad market is, we are overdue for a huge bounce if not a multi month rally. The risk in going long here does not seem very large. I have my stop in, so what do I have to lose? Maybe 5 percent but that is fine by me.
The Direxion 3X small cap bull ETF shares are leveraged 3 to 1 to the upside. Simply astounding that you can get that kind of leverage with an ETF. But it is true.
We will have to see how this one pans out. I also mentioned before that Larry Pesavento has pointed out that there is a very positive astro signature that will start coming into play this Thursday. So the strategy would be to go long in preparation sometime before this Thursday. Perhaps I am a bit early, we will have to see, but again the risk reward seems to be good right here.
